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| Real time ASAP is a business rule technology solution that provides the following capabilities. |
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Automate agency transactions |
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Direct connectivity from Agency Admin System to Carrier backend |
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Shrink transaction time from days to seconds |
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Automate decision making |
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Insurance producers, especially independent agents and brokers, face many issues:
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They have to work with different workflows with insurers they do business with. Agencies are known to conduct business with between 6 and 13 insurers (Ref: survey by IIABA) |
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Customer data in their agency management systems is not current resulting in agents unable to respond to customer needs faster, an issue referred to as the three point contact |
Issue for Insurers:
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Insurers who have implemented Real Time use it as a marketing leverage that puts other insurers, particularly regional carriers, at a competitive disadvantage |
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Real time ASAP accelerates implementation of Real Time and Download interface applications by supplying the software components needed to process the business-to-business transactions initiated by agency systems. These components authenticate the requests, validate the data, transform the data as needed, interface with backend systems to fulfill the transaction and communicate the result back to the agency systems. In conjunction with our expert professional services, we can complete an end-to-end implementation under 6 months. Real time ASAP supports a variety of Real Time functions including Automatic Web Login from agency management systems, Inquiry (Billing, Policy, Claim, and Loss Run), Endorsements, Real Time Rating, Policy Issue, First Notice of Loss and Notifications/Alert Messages.
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Real time ASAP is a sophisticated framework with a flexible architecture based on industry standards and our research in Insurance e-Business initiatives.
Deployed as a web service, Real time ASAP on receiving the request from agency system in ACORD XML or a proprietary format processes the request to perform the required function and sends the result back to the agency system.
A high-level architecture of the core components of Real time ASAP and how it interfaces with Carrier’s back-end is described in the diagram. |
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Increased producer productivity translating to increased business
for the insurers |
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Direct connectivity between
agent desktops and carrier
system reduces errors |
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Improved Agency self-service
leads to reduced workload
and cost for the insurers’
call center |
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Encourages use of industry
standards such as ACORD
and common Business Object
Model across the enterprise |
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Improved enterprise
architecture resulting in
long term benefits, enabling
back end systems to evolve
without impact on carrier
operations |
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